January 1, 2021We can’t put a final lid on the year 2020 without addressing the big issues, such as how we changed, what we learned, what’s coming back and what will never ...
December 15, 2020Real-time rails continue to gain traction as solution providers debut new tools wielding existing instant payment infrastructure to enhance their offerings to business customers.
Increasingly, those value-added services are not only ...
December 14, 2020It’s been a busy year in digital banking as the pandemic has driven consumers online to manage as much of their day-to-day lives as possible.
When Bank of America Rewards Executive ...
December 10, 2020In today’s top news, Bank of America’s CEO said customers are spending more than last year, and Airbnb topped forecasts with an IPO share price of $68. Plus, the FTC ...
December 10, 2020Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform.
“Our payments tracking tool populates ...
December 10, 2020Bank of America customers are spending more across all accounts than they did last year, but more stimulus is needed to support small businesses and people who are unemployed, according ...
November 11, 2020This week’s exploration of the latest in commercial card innovations finds a resilient market despite the perceived slowdown in corporate spend.
Virtual cards continue to remain a key focus, with FinTechs ...
October 15, 2020Call it silver linings — maybe not yet green shoots. But bank earnings are showing that loan loss reserves were more conservative than needed (at least for now) and that ...
October 14, 2020Bank of America (BofA) said on Wednesday (Oct. 14) that it is seeing a full restoration of customer spending, along with declines in delinquencies on credit cards, car loans and ...
October 9, 2020In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5 ...
October 9, 2020In today’s top news in digital-first banking, the government of the Philippines is considering limiting the number of digital banks that run in the country, while Ripple introduced its Line ...
October 8, 2020Bank of America (BoA) is muscling into the payday loan business, minus the sky-high fees, as the pandemic continues to upend the financial landscape, according to a post on the ...
October 6, 2020Bank of America is rolling out three new application programming interfaces (APIs) as it supports the growing demand for up-to-the-moment data and processing in business treasury.
The new APIs help with ...
October 6, 2020In today’s top news, teen spending dropped dramatically amid the pandemic, and the House is considering breaking up Big Tech. Plus, Bank of America launched a digital financial planning program.
Teen ...
October 6, 2020In today’s top news in digital-first banking, Bank of America has launched its Life Plan program, while United Airlines and Chase Card Services launched a United Gateway credit card. Plus, ...
October 5, 2020Bank of America has launched its Life Plan program, which it says will aid customers in better financial planning, according to a press release.
Life Plan can be accessed through the ...
September 25, 2020In today’s top news, Ant Group launched a cross-border blockchain trading platform for businesses, and California introduced new regulations for food delivery startups. Plus, credit card delinquencies have fallen.
Ant Group ...
September 25, 2020In today’s top news in digital-first banking, New York-based FinTech Petal has landed an additional $55 million, while BNY Mellon announced a collaboration with GTreasury for cash management. Plus, small ...
September 24, 2020Bank of America’s CEO said Thursday (Sept. 24) credit card delinquencies are “lower now than they were last year” as more people come off deferrals and consumers are starting to ...
September 7, 2020Warren Buffett has once again reduced his company’s investment in Wells Fargo & Co., favoring Bank of America (BoA) instead.
The Financial Times (FT) reported Berkshire Hathaway now owns 138 million ...
August 19, 2020In today’s top news, Uber is considering switching to a franchise model in California to avoid reclassifying its gig workers, and Amazon wants third-party sellers to deliver at the same ...
August 18, 2020U.S. and European companies will have to spend as much as $1 trillion to replace Chinese suppliers, but the expense will be worth it, according to Bank of America research ...
August 14, 2020The luxury goods and apparel business looks to be poised for a comeback, driven in part by the consumer shift to Digital 3.0. The evidence can be seen in a ...
July 29, 2020Bank of America (BoA) has expanded its mobile wallet use to include corporate customers in the Europe, Middle East and Africa (EMEA) and Asia Pacific (APAC) regions, hoping to enhance ...
July 23, 2020Berkshire Hathaway, the Warren Buffett-helmed conglomerate that owns Geico, upped its stake in Bank of America (BoA) by over $800 million, in what the Financial Times (FT) reported is a ...
July 16, 2020In today’s top news, EU’s top court will limit companies’ ability to transfer personal data to the U.S., and Airbnb said it will revive its IPO plans. Plus, Goldman Sachs ...
July 16, 2020Bank of America reported Thursday (July 16) that that the number of customers using the firm’s mobile and digital platforms grew during the second quarter even as the pandemic raged. ...
June 22, 2020Businesses relying on paper-based AP methods could be losing out on thousands if not millions of dollars, Bank of America’s Brad Garfield says. In this month’s Next-Gen AP Automation Tracker, ...
June 22, 2020A record $2 trillion has been deposited into U.S. bank accounts since the coronavirus first hit the U.S. in January, according to a report by the Federal Reserve Board.
In April ...
June 19, 2020Businesses that have stuck with paper-based accounts payable (AP) processes are feeling the heat as the COVID-19 pandemic makes it unsafe for staff to conduct manual invoice and payment processing ...
May 28, 2020Bank of America’s chairman and CEO sees light at the end of the COVID-19 tunnel.
In an interview on CNBC’s “Squawk Box” on Thursday (May 28), Brian Moynihan said the combination ...
May 27, 2020Bank of America notified principal owners of a potential data breach after the bank uploaded the loan applications of some customers to a “limited access, controlled” Small Business Administration (SBA) ...
May 18, 2020Bank of America has lowered its rating of Square Inc. by two notches Monday (May 18), downgrading the stock to “underperform” from “buy” amid fears that shops, restaurants, and salons will ...
May 15, 2020The U.S. banking industry is the runt of the litter of the current stock market rally as interest rates sink and loans crumble, according to Financial Times.
The 45 percent drop ...
May 4, 2020Amid the coronavirus pandemic and recessions, the old saying in life might hold true in business, and in particular for firms that rely on consumer spending to drive top and ...
May 1, 2020The CEO of Bank of America said the impact of the $2.2 trillion in federal relief is beginning to reap benefits.
In an interview on CNBC’s “Closing Bell,” on Friday (May ...
May 1, 2020It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have ...
May 1, 2020JPMorgan Chase and Bank of America said they processed almost 500,000 applications totaling roughly $46 billion as part of the Paycheck Protection Program intended to help small businesses struggling to ...
April 27, 2020In today’s top news, Amazon is trialing video onboarding calls to prevent merchant fraud, and hospitals face major financial hardship amid the coronavirus pandemic. Plus, the CEO of Bank of ...
April 26, 2020As the Paycheck Prevention Program (PPP) reopens on Monday (April 27) with $310 billion, Bank of America (BoA) chief executive officer (CEO) Brian Moynihan said he thinks Congress should make ...